ASIC signs fintech deal with African regulator

The corporate regulator has signed an agreement with an African regulator, aiming to promote financial services innovation in their respective markets.

ASIC said in a statement that it has agreed with the Capital Markets Authority of Kenya (CMA) to share information in their respective markets including on emerging market trends and regulatory issues arising from the growth in innovation.

The agreement was signed in the margins of the board meeting of the International Organization of Securities Commissions held in Hong Kong last week, the statement said.

In June, ASIC signed an agreement with the Monetary Authority of Singapore to help fintech businesses venture into each other’s markets following a similar agreement with the UK’s Financial Conduct Authority in March.